Showing of Service Tax on brokerage separately on the Bill - Service Tax - 15/09/96

This Circular has been rescinded by Circular No. 93/4/2007-ST, Dated: May 10, 2007 Service Tax Showing of Service Tax on brokerage separately on the Bill Service Tax Circular No. 15/9/1996, dated 4-10-1996 Certain doubts have been expressed regarding showing Service Tax collected/charged separately, on the contract note/bills. It was earlier clarified by the Board, that, it is desirable for the reasons for transparency, that, Service Tax charged/collected is shown separately in the contract note/bills. The matter has been re-examined by the Board. It has been observed that there is lack of uniformity in showing Service Tax collected/charged separately on the contract notes or bills. Hence, to avoid non-uniformity of practice it has been further clarified by the Board that, the Stock Brokers should prominently indicate the amount of Service Tax in the Bill relating to sale or purchase of securities. M/s. Pune Stock Exchange Co. Ltd./National Stock Exchange OTCEI are requested to bring the contents of this trade notice to the notice of their Stock brokers/trading members/ dealers.